Since the results of Japan IOT in 3Q [2008] was bad, as the union was concerned, it is likely a major restructuring for the current year has yet to start.

More specifically, there is a passage, such as the following, from the top management of what IBM told securities analysts in US: “Terminate the ‘Assistance Plan Career Choice’ program in Japan. We will use most of saved 100 million dollars from a ‘Workforce Action’ (= restructuring) in Japan to make the earnings structure of IBM JAPAN more competitive.”